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How to Bet
In Australia

Everything you need to know about sports betting, racing and PointsBetting — from opening your account to placing your first multi. Written for new and returning Australian bettors.

5 Steps to Placing Your First Bet

1

Create Your PointsBet Account

Register online or via the app in under 3 minutes. You'll need your email, mobile number, date of birth and Australian ID for verification. New accounts receive the $501 welcome bonus automatically.

2

Make Your First Deposit

Fund your account via Visa, Mastercard, PayID or bank transfer. Minimum deposit is $20. Funds are available immediately for wagering. Your deposit balance is always withdrawable.

3

Choose Your Sport or Event

Navigate to the sport, race or casino game you want to bet on. Use the search bar for a specific team, player or event. Browse by sport category or use the "Next to Jump" racing feed.

4

Select a Market and Odds

Tap or click the odds price for your chosen selection. The bet slip opens automatically. Then select your bet type (Win, Line, Multi leg etc.) and enter your stake amount.

5

Confirm Your Bet

Review the slip — check selection, stake and estimated return. Tap "Place Bet" to confirm. Your bet is recorded and a reference number is issued. Track your bet in My Bets.

Bet Types by Popularity — New Australian Bettors
First 90-day betting pattern analysis
Learning Curve: Avg. time to first multi bet
Days from account registration to first multi placement
Single Win
Day 1
Place Bet
Day 3
Line Bet
Day 7
Multi Bet
Day 14
PointsBetting
Day 28

Every Bet Type Available at PointsBet

Win Bet / Head-to-Head

The simplest bet. Your selection must win the match or race for your bet to pay out. Decimal odds show your total return per dollar staked.

Beginner

Place Bet (Racing)

Your horse must finish in the top 2 (small fields) or top 3 (8+ runners). Pays roughly one-quarter to one-fifth of the win price.

Beginner

Each Way Bet

Combines a win bet and a place bet in one stake. If your selection wins, both halves pay. If it places only, you collect the place portion.

Beginner

Line Bet (Handicap)

The bookmaker adds or subtracts points to level the field. Bet on whether the favourite covers the spread or the underdog keeps it close.

Intermediate

Total (Over/Under)

Bet on whether the combined score of both teams will be above (over) or below (under) the bookmaker's set line number.

Beginner

Multi Bet (Parlay)

Combine 2 or more selections from different events. All legs must win for the bet to pay. Odds multiply — higher reward but less likely to win.

Intermediate

Same Game Multi

Combine multiple markets from the same match (result + player + total) into one parlay. Odds are adjusted for combinations between correlated legs.

Intermediate

Exotic Racing Bets

Quinella, Exacta, Trifecta, First Four, Quaddie — predicting multiple finishing positions or winning multiple races in sequence.

Intermediate

PointsBetting

Win or lose multiples of your stake based on how correct your selection is. E.g. $5/point on margin — profit scales with accuracy above your line.

Advanced

How to Read Decimal Odds

Decimal Odds Implied Probability $10 Returns $50 Returns $100 Returns Status
1.10 90.9% $11.00 $55.00 $110.00 Heavy Fav
1.50 66.7% $15.00 $75.00 $150.00 Favourite
2.00 50.0% $20.00 $100.00 $200.00 Even Money
3.00 33.3% $30.00 $150.00 $300.00 Outsider
5.00 20.0% $50.00 $250.00 $500.00 Longshot
10.00 10.0% $100.00 $500.00 $1,000.00 Big Roughie
20.00 5.0% $200.00 $1,000.00 $2,000.00 Outsider

Formula: Return = Stake × Decimal Odds. Profit = Return − Stake. All amounts shown are total return (including stake).

Understanding PointsBetting: Australia's Most Unique Wagering Product

PointsBetting is PointsBet's signature proprietary wagering product and the primary reason the company was founded in 2017. Unlike any other form of fixed-odds wagering available at Australian sports bookmakers, PointsBetting creates a dynamic risk-reward relationship where your profit and loss scales in direct proportion to how correct your selection is.

Here's how it works: You select a market and stake an amount per point (e.g. $5/point on the Panthers -10.5 line). If the Panthers win by 18 points, you are 7.5 points above the line — profit = $5 × 7.5 = $37.50. If they win by only 8 points, you are 2.5 points below the line — loss = $5 × 2.5 = $12.50. The further from the line (in either direction), the larger the win or loss.

PointsBet manages the risk for all PointsBetting customers through a Quantum (maximum loss) limit that is set per bet at the time of placement. This means your maximum loss on any single PointsBet is capped — you can never lose more than your nominated Quantum amount even if the result is extraordinarily far from your line. However, your potential profit remains uncapped (subject to platform limits). For experienced bettors in sports betting, PointsBetting is the most compelling product available in the Australian market.

Bankroll Management for Australian Bettors

Professional sports bettors universally emphasise bankroll management as the single most important discipline. The Kelly Criterion is the mathematically optimal staking formula for maximising long-term bankroll growth: bet a fraction of your bankroll equal to (edge / odds). In practical terms for casual bettors, a flat staking approach of 1–3% of your total bankroll per bet is sufficient discipline. Never bet more than you can afford to lose — this is the most fundamental principle in wagering.

For racing enthusiasts, the exotic bet portion of your bankroll should be limited to 20–25% of total wagering funds, given the higher variance of trifectas and quaddies. Your base sports singles should represent the majority of your betting activity. Take advantage of the multi-leg bonus as it provides a mathematical edge (the bonus percentage exceeds standard margin on the same markets). Our full bankroll management calculator is available in the account tools section after registration.

Betting Terminology A–Z

Accumulator/Multi
Combining multiple selections where all must win.
Ante-Post
Bet placed well in advance of an event.
Barrier
Starting gate position in horse racing.
Bookmaker Margin
Build-in overround ensuring the bookmaker profits.
Cash Out
Settling a bet early for less than potential full return.
Decimal Odds
Total return per dollar staked (includes stake).
Drift
Odds lengthening — a selection becoming less fancied.
Favourite
Selection with shortest odds (most likely to win).
Fixed Odds
Payout locked at time of bet placement.
In-Play / Live
Betting while the event is in progress.
Line Bet
Handicap market equalising teams via points margin.
PointsBetting
Dynamic product where P&L scales with margin accuracy.
Quaddie
Win 4 nominated races at one meeting (Quadrella).
Shortening
Odds dropping — a selection becoming more fancied.
Trifecta
Nominate the 1st, 2nd and 3rd finishers in order.
Wagering Req.
Number of times bonus must be bet before withdrawal.

Common Betting Questions

What is the minimum bet at PointsBet?
The minimum bet on most fixed-odds sports and racing markets is $1.00. Some exotic and multi markets have a minimum of $0.50 per combination. PointsBetting minimum stake is $0.30 per point.
How do I read a race form guide?
Form figures show recent finishing positions right-to-left most recent. "1-2-1-3" = third in most recent start, first two starts ago, second, first. "/" separates seasons. "x" = scratched. Lower numbers are better.
What does "value" mean in betting?
Value exists when you believe the true probability of an outcome is higher than what the bookmaker's odds imply. A team you assess at 55% chance offered at 2.20 (45.5% implied) is a value bet regardless of whether it wins.
How old do you have to be to bet in Australia?
You must be 18 years of age or older to open a wagering account in Australia. PointsBet uses government ID verification during registration to confirm age. Underage gambling is illegal and strictly prohibited.
James Mitchell
James Mitchell
Senior Sports Betting Analyst & Educator

James has written about Australian sports wagering strategy for 14 years. His betting guides have helped tens of thousands of Australians understand odds, manage their bankrolls and make more informed decisions across sports, racing and casino platforms.

📅 Updated April 2025✅ NTRC Licensed Content

A step-by-step guide to placing bets at PointsBet

Opening a PointsBet account takes about three minutes. You will need a valid Australian email address, mobile number and proof of age document. Once verified, deposits are instant via POLi or debit card. Return to the PointsBet Australia betting platform to register now.

Reading Australian betting odds is straightforward. Decimal odds of 2.50 mean a $10 bet returns $25 ($15 profit). PointsBetting markets show a multiplier instead—a 5x multiplier on a one-goal result pays five times the winning margin in dollars per unit staked.

Frequently asked questions

What is the minimum bet at PointsBet?

The minimum bet at PointsBet is $1 for fixed-odds markets and $0.50 for tote racing wagers.

Can I cash out a bet early?

Yes. PointsBet offers early cash-out on selected sports and racing markets. The cash-out value is calculated in real time based on current market prices.